Carolinas Wealth Consulting LLC Lowers Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Carolinas Wealth Consulting LLC trimmed its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 16.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 600 shares of the technology company’s stock after selling 115 shares during the period. Carolinas Wealth Consulting LLC’s holdings in Check Point Software Technologies were worth $99,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CHKP. Massachusetts Financial Services Co. MA increased its stake in Check Point Software Technologies by 2.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,527,700 shares of the technology company’s stock worth $912,070,000 after buying an additional 114,938 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Check Point Software Technologies by 10.5% in the second quarter. Acadian Asset Management LLC now owns 4,108,685 shares of the technology company’s stock worth $677,869,000 after acquiring an additional 391,983 shares during the period. Boston Partners raised its stake in Check Point Software Technologies by 13.1% during the 1st quarter. Boston Partners now owns 3,623,923 shares of the technology company’s stock valued at $594,169,000 after purchasing an additional 419,404 shares during the period. Ninety One UK Ltd lifted its holdings in Check Point Software Technologies by 1.1% in the 2nd quarter. Ninety One UK Ltd now owns 3,608,785 shares of the technology company’s stock worth $595,450,000 after purchasing an additional 39,092 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in Check Point Software Technologies by 3.0% in the 1st quarter. Nordea Investment Management AB now owns 2,674,761 shares of the technology company’s stock worth $440,266,000 after purchasing an additional 77,849 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Check Point Software Technologies from $168.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Check Point Software Technologies from $175.00 to $185.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Truist Financial reaffirmed a “buy” rating and issued a $200.00 target price (up from $175.00) on shares of Check Point Software Technologies in a report on Thursday, July 25th. Susquehanna boosted their target price on Check Point Software Technologies from $200.00 to $215.00 and gave the stock a “positive” rating in a research report on Thursday, July 25th. Finally, Evercore ISI upgraded Check Point Software Technologies to a “hold” rating in a report on Monday. Sixteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Check Point Software Technologies currently has a consensus rating of “Hold” and a consensus target price of $183.68.

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP opened at $188.99 on Thursday. Check Point Software Technologies Ltd. has a 1 year low of $126.57 and a 1 year high of $195.29. The firm has a 50-day simple moving average of $183.61 and a two-hundred day simple moving average of $167.32. The company has a market cap of $21.34 billion, a P/E ratio of 26.25, a PEG ratio of 2.96 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01. The firm had revenue of $627.40 million during the quarter, compared to analyst estimates of $623.19 million. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. Check Point Software Technologies’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company earned $1.74 EPS. As a group, equities research analysts expect that Check Point Software Technologies Ltd. will post 7.83 EPS for the current year.

Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a multilevel security architecture, cloud, network, mobile devices, endpoints information, and IOT solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against fifth generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.